Sticky Registration Sticky Customer Support

Daily Currency Update

Get access to our expert daily market analysis and discover and track your currency pair using our exchange rate tools. EUR, GBP, USD & CAD Forecast.

USD Remains The Safe Haven of G10 FX

USD - US Dollar

USD remains the safe haven of G10 FX and should remain supported against the backdrop of persistent market uncertainty over the Ukraine crisis. The war in Ukraine has further strengthened the perceived divergence between the hawkish Fed on the one hand and the dovish ECB on the other given the limited vulnerability of the US economy to Russian sanctions and the negative commodity terms of trade shock that resulted from the crisis. This has added to the rate appeal of the USD. That said, the US rates markets have already priced in a considerable amount of tightening especially in the near term, and this may limit the support for the USD. Moreover, there were no upside surprises from the US CPI yesterday and this corroborated the view that the Fed will deliver a 25bp hike next week. Today’s he US focus today will be on the US March Michigan consumer sentiment release. Presumably higher gasoline prices will be taking their toll here. Yet there are no signs of the Fed backing away from. All told, the USD could continue to take its cue from the resilience of broader risk sentiment with any renewed concerns about the Ukraine crisis likely to boost its safe-haven appeal. 

CAD - Canadian Dollar

USD/CAD has hovered around 1.28 in the past two sessions after rejecting 1.2900 levels earlier this week. The correction in oil prices is not taking a big toll on the loonie as it has been largely accompanied by a rebound in global risk sentiment, and crude continues to trade at levels that can further underpin the recovery in the Canadian energy industry. Today, February’s jobs data will be in focus in Canada, and markets expect a solid headline read (around 130k), in line with last week’s strong US numbers. Special attention will be on wage growth, which had corrected lower to 2.4% YoY in January. 

A good jobs report today could help markets take a more convincing stance on a Bank of Canada rate hike in April, which is currently 60% priced in, and is starting to look increasingly likely given the positive spillover of high oil prices into the Canadian economy and inflation that looks unlikely to ease in the near term. This should pave the way for more USD/CAD downside – the pair could press 1.2700 today - although headlines related to the Russia-Ukraine conflict will continue to play a bigger role for the pair. 

Currency Chart

Get access to our market experts and sign up to receive the latest updates on any currency with our real-time exchange rate reports.

Sign up to receive the latest market news from our experts.

Daily Currency Updates
Daily Market Analysis
Get daily intelligence and currency reports directly to your inbox.
Weekly FX Technical Analysis
Weekly Technical Analysis
Get our weekly technical analysis providing valuable insights.
Monthly Currency Outlook
Monthly Currency Outlook
Receive our monthly currency report and help improve your forecasts.

By entering your email address you agree to the MTFX Terms Of Use and MTFX Privacy Policy and agree and agree to receive sales and marketing communications. Unsubscribe at anytime.


Individuals and businesses who need to send money in foreign currency internationally can use MTFX’s services. The beneficiary of the transfer must have a bank account for the funds to be paid into. Personal clients usually use our services to transfer money between their own accounts in two different countries. Business clients usually use our services to transfer funds to suppliers, fund international operations, or repatriate overseas earnings.
MTFX offers currency exchange rates that are 2-5% better than those offered by the banks. Personal clients usually save hundreds of dollars per transfer and for larger transfers, the savings can run into the thousands. We also offer excellent customer service, dedicated currency specialists, and a 24/7 online platform with best-in-class technology that allows you to complete transfers from any device virtually anywhere in the world. Business customers save with better currency exchange rates and proven solutions geared towards managing and mitigating foreign exchange risk. Our solutions include forward contracts, market orders, rate alert services, and much more - all backed by great technology and great people.
Funds can be transferred via wire transfer, Electronic Funds Transfer (EFT), or ACH payment services. MTFX maintains bank accounts in all major currencies with highly-rated banks. Our banking infrastructure ensures that you can transfer funds to us quickly and securely.
Our global network of banking partners allows us to get funds to virtually anywhere in the world quickly and efficiently. Most wire transfers from MTFX will be received by your beneficiary within 24-48 hours. MTFX also offers same-day transfers that are almost instantaneous, as well as low-cost in-country payment services for your less urgent transfers. For further information please speak to one of our currency specialists.